Unveiling Bitcoin Reserves Through the Holdings of 6 New Spot Bitcoin ETFs
January 16, 2024 | by stockcoin.net
The article, titled “Unveiling Bitcoin Reserves Through the Holdings of 6 New Spot Bitcoin ETFs,” provides a comprehensive analysis of the bitcoin holdings of various spot bitcoin exchange-traded funds (ETFs) recently launched in the United States. Within the first two days of their launch, data has surfaced regarding the number of bitcoins owned by these funds. Blackrock, in particular, leads the pack with a significant holding of 11,439 bitcoin, followed closely by the Fidelity Wise Origin Bitcoin Fund and the Bitwise Bitcoin Trust. The article also examines the holdings of other ETFs and compares them to those of Grayscale’s GBTC, as well as international funds in Canada and on the Xetra trading platform. Overall, the article sheds light on the bitcoin reserves of these new ETFs and provides insights into their importance within the cryptocurrency market.
Unpacking the Holdings: A Glimpse Into Emerging Spot Bitcoin ETFs
The recent authorization of 11 spot Bitcoin ETFs by the U.S. Securities and Exchange Commission (SEC) has provided investors with new opportunities to gain exposure to the cryptocurrency market. In this article, we will take a closer look at the holdings of these emerging spot Bitcoin ETFs and compare them to other funds in the market.
Blackrock, one of the largest asset management companies in the world, has emerged as a major player in the spot Bitcoin ETF space. According to recent data, Blackrock currently holds 11,439 Bitcoin, making it one of the largest holders of the cryptocurrency among the approved ETFs. However, it’s important to note that Grayscale’s GBTC still holds the largest amount of Bitcoin with 617,079 BTC.
Hashdex’s Futures Product
Hashdex, a digital currency manager, has clarified that its offering is currently a futures product and not a spot Bitcoin ETF. While Hashdex has plans to evolve into a spot Bitcoin ETF in the future, it does not currently include Bitcoin in its portfolio.
Bitwise ETF’s Holdings
The Bitwise ETF has an estimated net asset under management (AUM) of $242,940,653. However, the exact quantity of Bitcoin held by the fund is not officially detailed on its website. It’s worth noting that Bitwise also operates the BITW fund, which holds 11,003 BTC.
Fidelity Wise Origin Bitcoin Fund (FBTC)
The Fidelity Wise Origin Bitcoin Fund is another significant holder of Bitcoin among the approved ETFs. As of the latest update, the fund holds 5,290 BTC. Fidelity has been a major player in the cryptocurrency space, and its foray into the spot Bitcoin ETF market further solidifies its commitment to digital assets.
Vaneck’s HODL ETF
Vaneck’s HODL ETF transparently displays its Bitcoin holdings on its website. The fund currently owns 1,640.92 BTC, showcasing its commitment to providing investors with exposure to the cryptocurrency.
Franklin Templeton’s EZBC ETF
Franklin Templeton’s EZBC ETF also maintains a Bitcoin reserve. As of the most recent information available, the fund holds 1,131 BTC. Franklin Templeton’s entry into the spot Bitcoin ETF market reflects the growing interest in cryptocurrencies among traditional asset managers.
ARK 21shares Bitcoin ETF (ARKB)
The ARK 21shares Bitcoin ETF, also known as ARKB, holds an estimated 1,625 BTC, which corresponds to an AUM of $75,833,696. ARKB’s holdings demonstrate the increasing demand for Bitcoin exposure in the ETF market.
Valkyrie’s BRRR Fund
Valkyrie, recently acquired by Coinshares, holds 1,102.87 BTC in its BRRR fund. The acquisition further solidifies Coinshares’ presence in the cryptocurrency market and showcases its commitment to providing investors with innovative digital asset products.
Invesco Galaxy ETF (BTCO)
The Invesco Galaxy ETF, known as BTCO, does not currently showcase its BTC holdings on its website. The “holdings” page awaits an update. Invesco’s entry into the spot Bitcoin ETF market demonstrates the growing interest from traditional financial institutions.
Wisdomtree’s BTCW Fund
Wisdomtree’s BTCW fund has yet to display a full BTC count of holdings on its website. Wisdomtree, a leading provider of ETFs, is expected to provide investors with exposure to the digital asset market through its BTCW fund.
Comparison to Other Holdings
Total Holdings of ETFs
When considering the total holdings of the spot Bitcoin ETFs, including Blackrock’s holdings, the collective amount of Bitcoin held is approximately 26,152 BTC. At current BTC exchange rates, this amounts to a value of $1.11 billion. While this is a significant amount, it is relatively modest when compared to Grayscale’s extensive holdings of 617,079 BTC, which account for 4.23% of GBTC’s total holdings.
Comparison to Grayscale’s GBTC
Grayscale’s GBTC remains the largest holder of Bitcoin among all funds, with a substantial reserve of 617,079 BTC. The newly introduced spot Bitcoin ETFs, including Blackrock’s holdings, represent a small fraction of Grayscale’s extensive holdings.
Comparison to Other Non-U.S. ETPs
In the international arena, other non-U.S. exchange-traded products (ETPs) surpass the newly introduced spot Bitcoin ETFs in Bitcoin holdings. For example, Bitwise’s BITW fund holds 11,003 BTC, while Canada’s Purpose ETF boasts a holding of 34,007 BTC. Additionally, the ETC Physical Bitcoin fund on the Xetra trading platform secures 26,858 BTC, and Coinshare’s XBT.ST fund traded on the Nasdaq Stockholm stock exchange maintains 18,783 BTC. Furthermore, as of January 14, 2024, Grayscale’s Digital Large Cap fund holds 6,391 BTC.
In conclusion, the newly introduced spot Bitcoin ETFs offer investors an opportunity to gain exposure to the cryptocurrency market through regulated and accessible investment vehicles. While these ETFs hold a significant amount of Bitcoin collectively, they still pale in comparison to the holdings of Grayscale and other non-U.S. ETPs. As the market continues to evolve, it will be interesting to see how these ETFs perform and whether they attract a significant amount of investment.